Lycopodium Wins A$93m Blackwater EPCM Contract

Lycopodium Limited (ASX:LYL) announced it has been awarded the engineering, procurement and construction management contract for Artemis Gold's Expanded Phase 2 project at the Blackwater Mine in Canada. The company said the EPCM contract is valued at approximately A$93 million, calculated at an exchange rate of A$1 to 0.985 Canadian dollars, and sits within Artemis Gold's overall Expanded Phase 2 budget. Blackwater is an open-pit truck and shovel gold and silver mine in central British Columbia, approximately 160 kilometres southwest of Prince George and 446 kilometres northeast of Vancouver, where commercial production commenced in May 2025.

Expanded Phase 2 will add 13 million tonnes per annum of throughput capacity which, combined with the 8 Mtpa Phase 1A project, will take total throughput capacity at Blackwater to 21 Mtpa; Lycopodium said that at the conclusion of the mine's multi-phase expansion program it is anticipated the mine will be one of the three largest gold mines in Canada. Lycopodium has been providing EPCM services for the delivery of Phase 1A and was involved in earlier stages of the Expanded Phase 2 development, preparing the feasibility study and providing front end engineering and design services for the new plant. The company said early works construction activities for Expanded Phase 2 are well underway, including earthworks for the new plant site, and that Artemis Gold recently announced the commencement of major works construction with the first concrete pour for the ball mill foundations completed ahead of schedule. Managing Director and Chief Executive Peter De Leo said the company was pleased to continue working with Artemis Gold and that the project represents a material domestic project to be delivered by Lycopodium's Canadian-based business.